By this time last year, Zoom fired over 1,300 workers in the search for efficiency and profitability. This February, the tech company has confirmed that about 150 jobs will go under the knife soon.
Making this company the latest to follow the trend of tech companies reducing their workforce.
From last March until now, January 2024 stands out as the month with the most tech employee layoff numbers of about 30,000 since the year began.
According to Zoom, the layoffs are not companywide but in specific areas of interest, while the company will continue hiring capable hands in artificial intelligence, product, sales, and other important operations.
We regularly evaluate our teams to ensure alignment with our strategy. As part of this effort, we are rescoping roles to add capabilities and continue to hire in the critical areas in the future”
Zoom Spokesperson to CNBC
In 2020, during COVID-19, Zoom saw a record high usage as workers required the use of the video conferencing platform to connect, in turn skyrocketing their stocks through the roof.
However, since the pandemic is over, their stocks have been plummeting, and this year, it has dropped a whopping 90% from their record high back in October 2020.